DAA EXECS RECENTLY VISITED GB AND MET WITH BOARD OF FREEPORT AIRPORT DEVELOPMENT COMPANY
NASSAU, Bahamas — A Bahamian group that has formed a joint venture with the Dublin Airport Authority (DAA) is emerging as the frontrunner to redevelop Grand Bahama International Airport (GBIA), Guardian Business understands, The Nassau Guardian reported on Monday, December 5, 2022 in an article written by Paige McCartney.
This newspaper understands that executives from DAA – a global airport and travel retail group with businesses in 15 countries around the world – recently visited Grand Bahama and met with the board of the Freeport Airport Development Company (FADC).
When contacted for comment yesterday, Deputy Prime Minister and Minister of Tourism, Investments and Aviation Chester Cooper said, “We are pretty close but not quite ready for an announcement. We committed to the Bahamian people that we will build a world-class airport and we have ensured that the process was deliberate.”
DAA’s principal activities include operating and managing the Dublin and Cork airports in Ireland, as well as global airport retailing through subsidiary Aer Rianta International. The state-owned company offers consultancy through its DAA International arm.
According to a document obtained by Guardian Business, DAA has teamed up with leading infrastructure investor I Square Capital, which has already invested $55 million into the new Nassau cruise port.
The firm has a diverse global portfolio, with 55 companies in 60 countries around the world.
GBIA has been in disrepair since Hurricane Dorian caused an estimated $60 million in damage in 2019.
Successive governments have acknowledged that rebuilding Grand Bahama’s economy and attracting more investment is heavily reliant on a new airport.
In August, Cooper said the government and the FADC were mulling through several proposals from companies vying to enter into a public-private partnership, that range from $50 million to $150 million.
See complete article in The Nassau Guardian at https://thenassauguardian.com/local-group-with-dublin-airport-authority-is-gb-airport-frontrunner/?fbclid=IwAR3lDQvVlt8jFIM6X539NKlt5qok_nMtzJv0qVgQuTlczMhA0ZYevjePC1c
